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6 COMMON CHALLENGES FACED BY INSURANCE ORGANIZATIONS

When everything in this modern society should be digitally driven and led by<br>historical and operational data, it is still functioning as Asset or Pain-Point Driven. Go to basculegroup.com for more.

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6 COMMON CHALLENGES FACED BY INSURANCE ORGANIZATIONS

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  1. 6 COMMON CHALLENGES FACED BY INSURANCE ORGANIZATIONS CONTRASTING DATA SOURCES The mismanagement in data storage affects smooth functioning of operations. Most often the cause is having multiple systems to store data in different data sources and formats. CASUAL GOVERNANCE OF DATA Agents, underwriters, adjusters, policy administrators and other professional’s inability to enter and store data with similar naming conventions, file formats and locations. FOLLOWING OUTDATED PROCESSES Such clumsy processes which are more often manual process creates several variants and unstructured information. INADEQUATE GLOBAL PROCESS AWARENESS Siloed approach to operations with lack of awareness of the global process and up and downstream impacts in the business. LACK OF DATA REPORTS AND ANALYTICS Under usage and ignorance of the tools and practices that can provide data insight and improvement outputs to the business. CUSTOMER FEEDBACK Ignoration of customer interaction and feedback not seen as an acquisition method for operational data. When everything in this modern society should be digitally driven and led by historical and operational data, it is still functioning as Asset or Pain-Point Driven. WE ARE BASCULE INTERNATIONAL GROUP Go to basculegroup.com for more.

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